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perhaps means testing in some of those mandatory cuts. maybe form subsidies, but this is where the give and take will occur. boehner and obama have met before. the summer of 2011. they put a lot of specifics on paper. when boehner couldn't get backing from his conference. >> how close is this to that is >> it is a broad outline, but there is a lot of negotiation. even members of the congress didn't see this in advance. this was really an opening bid. it is best seen as really a response to pressure. but people saying where's our plan. you've got to put a plan out there to begin the negotiation. >> thank you. >>> deal or no deal. we're on the edge of our seats. washington, the fiscal cliff suspense is killing us. 29 days in counting until our taxes go up and across the board spending cuts. we still don't know any of the details. instead we're getting lots of mixed messages as to what exactly is going to happen, where things stand. >> there has been progress. >> right now i would say we're nowhere. >> i'm increasingly pessimistic. >> so ton
perhaps means testing in some of those mandatory cuts. maybe form subsidies, but this is where the give and take will occur. boehner and obama have met before. the summer of 2011. they put a lot of specifics on paper. when boehner couldn't get backing from his conference. >> how close is this to that is >> it is a broad outline, but there is a lot of negotiation. even members of the congress didn't see this in advance. this was really an opening bid. it is best seen as really a...
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>> i don't think the welfare state getting bigger for two reasons in obama's term. one reason is we're out of money. spent $2 trillion on obamacare. people see greece, the european crisis going on right now, and there's so much pressure to cut spending, i can't imagine a really big even new entitlements, you know, a new ira required on top of social security. i couldn't see that happening. with that said, a lot of subsequentiaconsconveniential.se huge. he'll have a lot of opportunities to move the progressive football down the field, but i don't see any of these -- any of these dreams coming to fruition unless the republican house is defeated in two years, paving the way for bigger plans. >> greta: john, do you see the disappointment that the president will have with liberal supporters that want this? >> one thing democrats will be encouraged by when you look at big entitle programs in the past, like social security and medicare, they've really grown over time. they started out with a small concentrated base, and through acts of congress, they became increasingly po
>> i don't think the welfare state getting bigger for two reasons in obama's term. one reason is we're out of money. spent $2 trillion on obamacare. people see greece, the european crisis going on right now, and there's so much pressure to cut spending, i can't imagine a really big even new entitlements, you know, a new ira required on top of social security. i couldn't see that happening. with that said, a lot of subsequentiaconsconveniential.se huge. he'll have a lot of opportunities to...
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beginning in january. >>> president obama will have lunch in just a few hours with mitt romney. it will be the first time they have met face to face since the final debate shortly before this month's election. the event will be held at the white house. it is private, no aides present, no media, just the president and the former gop nominee. they will hash it out. >> should be interesting. >> maybe he will bring mitt into the fold. who knows. >> we'll see. >>> just from the labor department the number of americans filing first time unemployment claims fell last week. the decline comes as impact of superstorm sandy eases a bit. this morning, stock futures are moving higher on encouraging news from washington on the "fiscal cliff" issue. ashley morrison of cbsmoneywatch.com joins us. good morning, ashley. >> reporter: good morning, to you, frank and michelle. asian markets got a lift this morning on growing optimism from debt talks in washington. tokyo's nikkei rose 1% while hong kong's hang seng also gained about 1%. the improvingometer mitchell on the "fiscal cliff" gave wall str
beginning in january. >>> president obama will have lunch in just a few hours with mitt romney. it will be the first time they have met face to face since the final debate shortly before this month's election. the event will be held at the white house. it is private, no aides present, no media, just the president and the former gop nominee. they will hash it out. >> should be interesting. >> maybe he will bring mitt into the fold. who knows. >> we'll see. >>>...
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president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000. they have a little room to leverage but right now they have zero leverage, zero. >> do you agree with that? i don't know if i agree with that. it's hard once the rates go back to 39.6 or whatever they go to, to go back and say, now we to want cut taxes for the rich. what's the reason to do it? the republican party says we have to stop the government, stop paying our debts, don't pay our bills anymore because we have to help out the rich now. that would be the worst situation to be in. >> as the conversation shifts really to the bottom line in the deficit. at the end of the day the whole thing is ab
president obama has all the leverage because he knows if it goes over the fiscal cliff, tax cuts expires and he'll never let the top 2% get that tax cut reinstated. if they do what you suggested, vote the tax cut, continue it for the 98%, then the leverage switches to them come the time of the debt limit. they might be able to make a deal where they save some of it so it doesn't go up to 39%. maybe goes up to 37.5%. maybe they do the buffett rule and only raise rates on people making $500,000....
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the thing obama couldn't get last time and can get this time is more revenue even if congress refuses to ask. we go over the fiscal cliff rates reset under bill clinton and you're negotiating a tax cut not a tax increase. other thing the way weight of public opinion since that level has moved strongly against republicans. look who the public says they're going to blame if we go over the cliff, it's republicans because they see them as having forced the issue last time around, been willing to do this this time around. one reason boehner is grumbly and nervous because he doesn't have any leverage. >> i want to point this out. this is interesting in terms of the smoke and mirrors how this will play out for the republicans. in the "wall street journal" they write obama's flexible on highest tax rates. white house's flexibility, described by bowls, confirmed by the administration officials, could envision tax rates -- tax rate increase from the current level but was less than clinton era levels. if the republicans can say, we cut taxes from where they were under clinton it gives them cover
the thing obama couldn't get last time and can get this time is more revenue even if congress refuses to ask. we go over the fiscal cliff rates reset under bill clinton and you're negotiating a tax cut not a tax increase. other thing the way weight of public opinion since that level has moved strongly against republicans. look who the public says they're going to blame if we go over the cliff, it's republicans because they see them as having forced the issue last time around, been willing to do...
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president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make his case. >> i have got a pen. [ laughter ] i'm ready to sign it. [ applause ] so, my point here today is is to say let's approach this problem with the middle class in mind. the folks who are behind me and the millions of people all across the country who they represent. >> shepard: well, republicans are saying they need some spending cuts. that they will also have to be part of the deal. and they are accusing the president of campaigning instead of negotiating. >> i mean, every week he spends campaigning for his ideas is a week that we are not solving the problem. it's completely counter productive. the election is over. he won. congratulations. and we have got a hard deadline here, however, and it's still he he is still out on the campaign trail, kind of celebrating. >> shepard: if the president and congress cannot cut a deal by new year's day. automatic spending cuts kick in a
president obama says he would like congress to pass a bill even sooner to extend tax cuts for the middle class families. and he invited some of those middle class americans to the white house today to help make his case. >> i have got a pen. [ laughter ] i'm ready to sign it. [ applause ] so, my point here today is is to say let's approach this problem with the middle class in mind. the folks who are behind me and the millions of people all across the country who they represent. >>...
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framework for a debt-cutting deal can be reached in the coming weeks. good evening, i'm jeffrey brown. >> warner: and i'm margaret warner. on the "newshour" tonight, we get the latest on the efforts to resolve the impasse over tax hikes and spending cuts. >> brown: then, we get two views of a palestinian bid for limited statehood, ahead of a key vote tomorrow at the united nations. >> warner: wonder why your bills are going up? paul solman examines "the fine print" with author and journalist david cay johnston. >> i'm not against corporations. i am in favor of rules that make you earn your profits in the competitive market. you don't get them through a government rule that lets the company reach in your wallet and take money. the kinds of profits that we're >> brown: after the election, what's next for immigration reform? ray suarez asks texas senator kay bailey hutchison and illinois representative luis gutierrez. >> warner: and on the "daily download," we look at how the obama administration is re-using digital information gathered for the campaign to
framework for a debt-cutting deal can be reached in the coming weeks. good evening, i'm jeffrey brown. >> warner: and i'm margaret warner. on the "newshour" tonight, we get the latest on the efforts to resolve the impasse over tax hikes and spending cuts. >> brown: then, we get two views of a palestinian bid for limited statehood, ahead of a key vote tomorrow at the united nations. >> warner: wonder why your bills are going up? paul solman examines "the fine...
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Nov 30, 2012
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president obama says we need a combination of spending cuts and new revenue. he put out the spending cuts and he said the new revenue has to come with from getting rid of the tax cuts on the wealthiest of americans. meanwhile, we will get a tax cut to the 98 -- to 98% of americans, up to $250,000 a year, and the republicans say no. no deal unless we get a tax cut for our buddies, millionaires and billionaires we are not going to play. will we get anywhere closer to a deal? >> the big talk in washington, d.c. joining us to look at that is our good friend, richard fowler, host of "the richard fowler hour" on react radio. >> you know, i think the deal is questionable. i think we will get one, though >> bill: you do? >> i think we will get a deal. i was seeing this yesterday. if republicans letgous over the cliff, january 1st comes and, you know the deal is a different dealer. you know, we are winning the deck. >> in the sense we will have more votes in the senate. >> yeah. >> more in the shouse. won't have control in the house. there are a lot of people. i don't
president obama says we need a combination of spending cuts and new revenue. he put out the spending cuts and he said the new revenue has to come with from getting rid of the tax cuts on the wealthiest of americans. meanwhile, we will get a tax cut to the 98 -- to 98% of americans, up to $250,000 a year, and the republicans say no. no deal unless we get a tax cut for our buddies, millionaires and billionaires we are not going to play. will we get anywhere closer to a deal? >> the big talk...
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then its sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house wants a less generous estate tax. max-leaning states like baucu baucus. host: that was the headline recently in "the wall street journal," showing the senators. at its highest, was that was the estate tax? how many people did the estate tax affect? guest: we are talking tens of thousands. right now it affects 3000 the estates. the exemption level is set high historical novel. it has come down significantly. big argument from conservatives is it hits small businesses and farms. the number a hits is a small fraction. host: if nothing happens, what happens to the estate tax? guest: then it goes back to the levels of an exemption of $1 million. host: and that co
then its sprang back to life as part of the extension of the bush tax cuts that president obama signed into law. you have a debate -- very few members dispute that it needs to be continued. the debate is over whether you continue it at the current level. there is an exemption level, $10 million for a couple. or at the white house would prefer a 45% rate. that is the debate right now. there's a split among democrats. the white house wants a less generous estate tax. max-leaning states like baucu...
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to press republicans to let tax cuts expire for people make more than $250,000 a year. reports say the president's opening wid in budget talks calls for $1.6 trillion tax increase. that plan whether he had to sharp comments from both sides of the political aisle. >> now is the time for republicans to you've past this happy talk about revenues ill defined of course and put specifics on the table. the president has made his proposal. >> what we don't know is what the white house is willing to do it get serious about solving our debt crisis. >> if more, we're joined by mark zandi, chief economist at moody's analytics who is here in london. welcome. >> thank you. >> so the fiscal cliff issue, end of the year is looming. we saw the response to this opening gambit by president obama. how likely is it that this is the final plan put forward, what elements do you expect to be most critical here as talks continue? >> i think there will be a lot of brinkmanship. this is just the beginning of the process. i think it will be a while. we'll probably go into next year and actually go
to press republicans to let tax cuts expire for people make more than $250,000 a year. reports say the president's opening wid in budget talks calls for $1.6 trillion tax increase. that plan whether he had to sharp comments from both sides of the political aisle. >> now is the time for republicans to you've past this happy talk about revenues ill defined of course and put specifics on the table. the president has made his proposal. >> what we don't know is what the white house is...
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dick says that president obama has proposed $4 billion in spending cuts. possibly medicare savings at some point. that was in his budget he proposed but didn't get any support from even some democrats in the senate. but i don't know where the extra money comes from. what are your thoughts about the 400 billion that the president proposed? >> the 400 billion is a constant moving target. the president hasn't nailed down where this money is going to come from for sure. but remember what he told republicans last week? you make the decision on taxes for us and then we will talk about spending in january. it's his way or the highway. the president has done more negotiating a bookstore here in washington, and bite enact hostility virginia, that he is done up done up on the hill. he really wants to make a bargain for the american people, don't look for bargains for yourself. get up to the hill, cobble leaders to the white house. the president had one meeting and promised a meeting that never occurred. if the president was serious about this crisis, which everyone
dick says that president obama has proposed $4 billion in spending cuts. possibly medicare savings at some point. that was in his budget he proposed but didn't get any support from even some democrats in the senate. but i don't know where the extra money comes from. what are your thoughts about the 400 billion that the president proposed? >> the 400 billion is a constant moving target. the president hasn't nailed down where this money is going to come from for sure. but remember what he...
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the obama administration has cut way back on the numbers of those, on the deployment, and on the development of the new generation of kill vehicles. they have cut the funding for that. a system that can be both an effective american defense system and protect regional interests, such as europe, for example, from a threat from a country like iran, for example. the great pronouncement in bowling to provide the rationale for cutting way back on the gbi was that we are going to have something even better. of course everybody said wait a minute. the fourth stage of that would be very effective against a missile launched by mistake or perhaps by a rogue commander. in any event, the russians are now saying under no circumstances should you develop that. they not only object to a missile defense system that might potentially be effective against them, let alone other countries. they also have been putting enough pressure that i wonder if the administration will go forward as what they characterize as a substitute for gbi. >> i think a couple of lessons have been larger over the last 10 years and may
the obama administration has cut way back on the numbers of those, on the deployment, and on the development of the new generation of kill vehicles. they have cut the funding for that. a system that can be both an effective american defense system and protect regional interests, such as europe, for example, from a threat from a country like iran, for example. the great pronouncement in bowling to provide the rationale for cutting way back on the gbi was that we are going to have something even...
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president obama and mitt romney met privately at the white house today to chew over the nation's economic issues. it was the first time they have been together face to face since their contentious campaigns. cbs reporter tara mergener on the political power lunch. >> reporter: mitt romney got out of an suv and walked into the white house alone. the former republican nominee then sat down with president obama for a private lunch. aides say the president wanted to hear the businessman's ideas on how to make government run smoother. >> somebody with governor romney's experience clearly would have insight into how to maximize efficiency in an operation like the federal government. >> reporter: the lunch is the first time they met since they battled it out on the campaign trail. >> the president doesn't have a plan. he is out of ideas. he is out of excuses. >> reporter: keeps changing up so much and backtracking and side-stepping... i think it's called romnesia. >> reporter: the lunch in the white house dining room appears to be a one-time affair. aides say president obama does not plan to off
president obama and mitt romney met privately at the white house today to chew over the nation's economic issues. it was the first time they have been together face to face since their contentious campaigns. cbs reporter tara mergener on the political power lunch. >> reporter: mitt romney got out of an suv and walked into the white house alone. the former republican nominee then sat down with president obama for a private lunch. aides say the president wanted to hear the businessman's...
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to avert this crisis. >> obama wants to raise taxes on the wealthiest two percent of americans and leave current tax rates for everyone else. his two top negotiators will meet tomorrow on capitol hill. the sessions are important step on determining how the government can work together. a seemingly slight change in tone in washington today kron4's political analyst michael yaki is here to talk about it all -- >> in order to kick the debt ceiling the wanted its deficit reduction and this is basically that a stop- active measure to save it or to get a deal done. nobody wants to go there but we need deficit reduction and this is how we to it. >> . read saying that was not doing that well but now, john boehner is a saying that it is a little bit better what is going on? >> not really anything they are still talking at each other and the president is now bringing more to the bargaining table for john boehner to bring more provisions for the debt ceiling. >> at least four more weeks to get this done this is huge which is already it is a lumbering along in doing anything realistically
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president obama won the issue. how can republicans oppose cutting taxes for 98% of the american people? that's what this is going to come down to if it goes beyond january 1st. and i think republicans are going to cave again if that happens. so the smart move is take taxes off the table. and then the only thing left is what will the president do on spending and entitlements. don't forget, wolf and paul, none of this tax talk has any impact on the sequester. unless they cut spending, we are still facing massive cuts to the pentagon, doctors and hospitals. taxes are a separate debate. solve it, settle it and then we can focus on spending before december 31st. >> hold your fire, paul. we're going to continue this conversation. we have more to talk about. should president obama back off plans to nominate susan rice, for example, as the next secretary of state? who are his other options? are republicans secretly plotting for one of their own? more with ari and paul when we come back. can i help you? i heard you guys can
president obama won the issue. how can republicans oppose cutting taxes for 98% of the american people? that's what this is going to come down to if it goes beyond january 1st. and i think republicans are going to cave again if that happens. so the smart move is take taxes off the table. and then the only thing left is what will the president do on spending and entitlements. don't forget, wolf and paul, none of this tax talk has any impact on the sequester. unless they cut spending, we are...
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and it is foolish to reject president obama's own self-described architecture of $3 in spending cuts for every dollar in new revenue. we are prepared to work and call on the white house to do the same thing. >> speaker boehner, president obama, the white house projection last offer -- [inaudible] 53% of americans will blame republicans in congress if you go over the fiscal cliff. how long can you have that hard line on those making 250 and above. >> america faces a very serious problem and our goal is to make sure it gets solved. we have a debt problem that is out of control. we have got to cut spending and i believe it is appropriate to put revenues on the table. the receive news we are putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more -- more of their money to the federal government without raising the tax rates which we believe will harm our economy. [inaudible question] >> i think our members understand the seriousness of the situation that our country faces. trillion dollar defi
and it is foolish to reject president obama's own self-described architecture of $3 in spending cuts for every dollar in new revenue. we are prepared to work and call on the white house to do the same thing. >> speaker boehner, president obama, the white house projection last offer -- [inaudible] 53% of americans will blame republicans in congress if you go over the fiscal cliff. how long can you have that hard line on those making 250 and above. >> america faces a very serious...
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up with more entitlement cuts. jon: jenna had a great segment earlier about milton friedman and what would he do in this situation. >> yes. jon: he said or he was of the opinion if you give the government more money in any form they will figure out a way to spend it. >> senator rubio put it best. he said to create a successful economy, to create successful america we needless government, limited government. instead of making richer people poorer, make poor people richer. instead of new taxes create new taxpayers. we give money to the american people. they know best how to spend their money than big brother government. jon: are you optimist or pessimist when it comes to the question of whether we go over the fiscal cliff? >> i think president obama loves this country and is a patriot and boehner is a patriot and i believe they will work out a deal. if they don't make a deal, 28 million americans will pay alternative minimum tax and families will have their taxes raised $2,000 more and give more in this bad economy.
up with more entitlement cuts. jon: jenna had a great segment earlier about milton friedman and what would he do in this situation. >> yes. jon: he said or he was of the opinion if you give the government more money in any form they will figure out a way to spend it. >> senator rubio put it best. he said to create a successful economy, to create successful america we needless government, limited government. instead of making richer people poorer, make poor people richer. instead of...
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they cut money out of medicare and put it to fund obamacare, but president obama has not put forward a plan to deal with the entitlement crisis. he put forward no plan on social security, medicare or medicaid, which he himself admits is what is driving the debt and driving the real fiscal crisis. so they have put forward no plans whatsoever, and when paul ryan and others have put forward our plans, they've pilied them for it. i'm glad president obama's meeting with simon. i'd love for him to meet with john john boehner. [laughter] megyn: simon's got a lot of good ideas. were you in that meeting with the unions and the progressive groups that the president had -- >> no. i was in a different meeting. they can't meet with all at the same time. megyn: were you in the meeting that the progressive groups emerged from feeling, quote, very happy where they felt that the white house with us not going -- was not going to offer any spending cuts? they felt those programs were all going to be protected? >> no, no, i don't think that's what was said after that meeting. i think what the democrats
they cut money out of medicare and put it to fund obamacare, but president obama has not put forward a plan to deal with the entitlement crisis. he put forward no plan on social security, medicare or medicaid, which he himself admits is what is driving the debt and driving the real fiscal crisis. so they have put forward no plans whatsoever, and when paul ryan and others have put forward our plans, they've pilied them for it. i'm glad president obama's meeting with simon. i'd love for him to...
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again, two years ago, president obama signed and extended what i call the bush obama tax cuts. i think we need to do that, for some certainty to the economy and talk about looking at some real spending cuts, as well. >> some are criticizing this and calling it a very aggressive plan that the president has pushed forth. in public comments like the one we heard from boehner, reid, both sides taking really hard stances. but some insiders saying that a deal is within reach and much of it is for show now. new jersey democratic congressman rob andrews told politico this. there's the public choreography, then there is the real choreography. it may be something you alluded to. to reach a deal it has to look like there was a lot of fighting before the deal was reached. what's your response to that? do you think that there is a lot of grandstanding going on here? and we're actually going to make the deadline that the president suggested, which is before christmas? >> there's always a lot of grandstanding in washington on both sides. this is my first term in congress. i think mosts americ
again, two years ago, president obama signed and extended what i call the bush obama tax cuts. i think we need to do that, for some certainty to the economy and talk about looking at some real spending cuts, as well. >> some are criticizing this and calling it a very aggressive plan that the president has pushed forth. in public comments like the one we heard from boehner, reid, both sides taking really hard stances. but some insiders saying that a deal is within reach and much of it is...
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spending cuts as of january one, they are trying to avert that. he says any deal on this must include an end to the debt ceiling all together. he wants complete power to raise the country's limit by himself. he doesn't want to have to get congressional approval. that is a demand stirring strong response from republicans today. >> the on way we ever cut spending is by using the debate over the debt limit to do it. now the president wants to remove that spur to cut all together. of course, it gets in the way of his spending plans. i can assure you it one happen. the american people want washington to get spending under control and the debt limit is the best tool we have to make the president take that demand seriously. the american people want us to fight to cut spending. it's a fight they deserve and a fight we are happy to have. >> joining me now, simon rosenberg. and mark theisen. guys, welcome. simon, let me start with you on this. we did have some democrats come on the show and say no, the president doesn't get to just decide when to raise the
spending cuts as of january one, they are trying to avert that. he says any deal on this must include an end to the debt ceiling all together. he wants complete power to raise the country's limit by himself. he doesn't want to have to get congressional approval. that is a demand stirring strong response from republicans today. >> the on way we ever cut spending is by using the debate over the debt limit to do it. now the president wants to remove that spur to cut all together. of course,...
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i said to him, president obama, you said you were going to cut the red tape. you lied. he said what do you mean? he said you lied. you said you were going to cut the red tape. what are you giving us the royal finger. >> gregg: we'll have more on that interview and president responded. anna is live at staten island, new york. >> hello. together living with the challenges is find as way to help kids just be kids even though their lives have been turned upside-down. they are just wrapping up carnival day and they are calling it camp sandy. a bus driver picked up 30 kids from a shelter here and brought them to gate way academy. they share their stories and sing along and zumba and yoga to burn off energy. they can take non-perishables. it's a traveling camp that serves about 500 kids in the last two years. this camp in particular is tough. >> when we leave it's definitely hard because we are going back to our tv and our couch. this is a production like physically and emotionally. this is one of the hardest camps i've ever done. to be able to maneuver through a disaster and
i said to him, president obama, you said you were going to cut the red tape. you lied. he said what do you mean? he said you lied. you said you were going to cut the red tape. what are you giving us the royal finger. >> gregg: we'll have more on that interview and president responded. anna is live at staten island, new york. >> hello. together living with the challenges is find as way to help kids just be kids even though their lives have been turned upside-down. they are just...
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president obama even in his p - proposal yesterday had entitlement cuts including to medicare. you have in the past been resistant to cutting entit entitlements. does the result of the election -- i've heard many people on the democratic side say, look, we won. we don't need to make concess n concessions to republicans on entitlements. we can raise the top rates without making these concessions. do you think the president is even in this first proposal giving away too much on the entitlement side? >> i think it's important to note that there's a difference between working to cut medicare and protecting the benefits. and itch said repeatedly that i will not vote to cut the benefits people have earned and depend on because they put those benefits into place, one, this in the middle of a depression, social security, and the other one, medicare, because they were needed. republicans and democrats recognized they needed these programs because people got old and people got sick and they still do. so i will not work to cut those benefits. but when the president talks about looking at
president obama even in his p - proposal yesterday had entitlement cuts including to medicare. you have in the past been resistant to cutting entit entitlements. does the result of the election -- i've heard many people on the democratic side say, look, we won. we don't need to make concess n concessions to republicans on entitlements. we can raise the top rates without making these concessions. do you think the president is even in this first proposal giving away too much on the entitlement...
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as the financial times points out they endorsed president obama. this is the same kind of proposal that president obama took to congress two years ago that got zero votes. this is the exact heavy on the revenue side, $1.6 trillion on tax increases, low on spending side and then he adds $200 billion of new spending. on top of that something we've never heard of before, he wants congress to basically give up the authorization to raise the debt limit which is part of their constitutional powers and he wants a bank check. this is very unserious and the speaker is frustrated. >> heather: i would like to break that apart. president calls for $1.6 trillion in tax increases, that is double what was previously suggested. so what part of this plan along with the $600 billion in saving including medicare that suggested in the $200 billion in additional spending, what part of this plan is a balanced or bipartisan approach? >> i bet john boehner things the grand bargain was good deal last year. the chicken question is john boehner having to blink. president was
as the financial times points out they endorsed president obama. this is the same kind of proposal that president obama took to congress two years ago that got zero votes. this is the exact heavy on the revenue side, $1.6 trillion on tax increases, low on spending side and then he adds $200 billion of new spending. on top of that something we've never heard of before, he wants congress to basically give up the authorization to raise the debt limit which is part of their constitutional powers...
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wealthy. 600 billion in cuts to domestic programs like medicare. and 50 billion in new infrastructure spending. when treasury secretary tim geithner went to the capitol and laid out the plan for a senate republican leading mitch mcconnell, aides on both sides said mcconnell burst out in laughter. with talks now entering the final month, house republicans offer add more somber assessment. >> we're not interested in playing rope a dope. >> it was not a serious proposal. and so right now we're almost nowhere. >> reporter: so alex the clock is ticking. the president's public campaign trying to pressure john boehner, eric cantor and their charges in their house republican conference continues. he meets with governors this week here at the white house to talk about this time and more meetings with ceos, this is in the form of the business round table, a business lobbying group. >> being almost nowhere right now with just a month to go. yikes. we'll be talking about it again, mike. thank you. >>> now number three of our first five web stories in a move u.
wealthy. 600 billion in cuts to domestic programs like medicare. and 50 billion in new infrastructure spending. when treasury secretary tim geithner went to the capitol and laid out the plan for a senate republican leading mitch mcconnell, aides on both sides said mcconnell burst out in laughter. with talks now entering the final month, house republicans offer add more somber assessment. >> we're not interested in playing rope a dope. >> it was not a serious proposal. and so right...
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his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: enter a new player in the talks, stephanie cutter. you remember her? she was the deputy campaign manager for the obama-biden ticket suggested that mitt romney might have committed a felony on his tax returns. sunday night, she e-mailed them to reach a fiscal deal. republicans have balked at raising those tax rates. they are identified by marcus at countries job creators. >> for the first time in two decades, they are there will tell revenues go up as part is the plan. but they have to tell us what they're willing to do with revenues. it's definitely very hard for republicans. reporter: earlier you saw the meeting of four congressional leaders on november 16 at the white house. at that time, harry reid spoke of a follow-up session was to be held next week. that never helped happened and the clock ticks on. jenna: we have that clock right on our screen. just in case you forgot. jon: get ready for the baby. just into fox news, prince william and his
his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: enter a new player in the talks, stephanie cutter. you remember her? she was the deputy campaign manager for the obama-biden ticket suggested that mitt romney might have committed a felony on his tax returns. sunday night, she e-mailed them to reach a fiscal deal. republicans have balked at raising those tax rates. they are identified by marcus at countries job creators....
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. >> cutting spending. >> cutting spending and then a balanced approach. >> yeah. good stuff. thank you for coming in. >> a pleasure. >> thank you so much. >>> president obama makes good on an election night promise meeting with mitt romney for lunch at the white house. this was their first face to face meeting since their bruising presidential campaign and it was strictly a no-cameras, no-reporters affair. you like to be a fly on that wall for that meeting. blink and you miss this. our cameras caught a brief glimpse of romney arriving at the white house minutes before the lunch was scheduled to begin and here he is leaving about an hour and 15 minutes later. lasted that long. as for what was discussed, no word yet from romney nor from the white house. >> a former president in the hospital today and we're now hearing when george h.w. bush might get out. >>> but up next, an internet blackout. a crucial fight right under way now in syria. i'll speak live with someone who just returned from there and saying the developments could signal the end game for bashar al assad. helping m
. >> cutting spending. >> cutting spending and then a balanced approach. >> yeah. good stuff. thank you for coming in. >> a pleasure. >> thank you so much. >>> president obama makes good on an election night promise meeting with mitt romney for lunch at the white house. this was their first face to face meeting since their bruising presidential campaign and it was strictly a no-cameras, no-reporters affair. you like to be a fly on that wall for that...
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nobody brought up that the barack obama didn't have a plan the entire-- it's mind-boggling. stuart: i'm looking at the so-called offer, if implemented would put mesh-- measured america straight into recession. and saying it's the republican's fault rejected from the president. >> the only thing they care about are tax increases oo the greedy rich. they know it's all an farce. and they know if you have a debt of 80 billion and-- >> i disagree, i think they, they don't know that. they don't know that tax increases result in a less-- >> and they want tax increases because they're neo socialists. >> and here is the dishonesty, i have seen story after story after story hammering republicans about the need to break their pledge to grover norquist. look, this wasn't a pledge of tax cuts to grover norquist. i can guarantee you, every singleerepublican and some democrats, too, running for congress or the senate, i guarantee you, every single one pledged to their constituents, i wasn't raise your taxes, every single one did, so, everyone who breaks that pledge is making a promise to h
nobody brought up that the barack obama didn't have a plan the entire-- it's mind-boggling. stuart: i'm looking at the so-called offer, if implemented would put mesh-- measured america straight into recession. and saying it's the republican's fault rejected from the president. >> the only thing they care about are tax increases oo the greedy rich. they know it's all an farce. and they know if you have a debt of 80 billion and-- >> i disagree, i think they, they don't know that. they...
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they said on the call john boehner told the president to leave the tax cuts for the rich alone. the president says he doesn't want to do that. he's going to stick with his plan to raise $1.6 billion in revenue and if republicans have something better they should be specific now. eric cantor said republicans are already going further than they did in the same spot in 2010. >> we have done our part. we have put revenues on the table, something we didn't do two years ago during the debt ceiling negotiations. >> we've seen some positive developments in the last several weeks, in terms of what republicans have been saying about the need for revenue as part of a balanced package. the president will continue to make the case that that is essential. >> reporter: so both sides saying revenue is on the table, now the fight is obviously to figure out where it's going to come from, how the government is going to make more money. democrats want it to come from increased tax rates on the rich, republicans would prefer to make that extra money by reforming the tax code and entitlements. bill:
they said on the call john boehner told the president to leave the tax cuts for the rich alone. the president says he doesn't want to do that. he's going to stick with his plan to raise $1.6 billion in revenue and if republicans have something better they should be specific now. eric cantor said republicans are already going further than they did in the same spot in 2010. >> we have done our part. we have put revenues on the table, something we didn't do two years ago during the debt...
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." >>> we begin with president obama taking his battle to extend tax cuts for the middle class into the heart of the middle class suburb today. he visited a family just outside washington, d.c., using their story to dramatize what will happen in just 26 days if he and congress can't make a deal on the so-called fiscal cliff. a source of great concern for so many people, everyone's taxes will go up, will go up if there's no deal. let's go live to our white house correspondent dan lothian. he's on the scene for us over at the white house. how did it go, dan? >> reporter: well, wolf, we've seen the president do this before in the past whenever he's locked in negotiations with lawmakers. he heads out on the road, either goes to a backyard or sits down around a dinner table to put pressure on congress. that's what he did today when he went to falls church sitting down with the santana family. their parents who also are employed live in the household with them. so if taxes do go up on middle class americans, the overall hit on that household will be $4,000. so they're very concerned, but they
." >>> we begin with president obama taking his battle to extend tax cuts for the middle class into the heart of the middle class suburb today. he visited a family just outside washington, d.c., using their story to dramatize what will happen in just 26 days if he and congress can't make a deal on the so-called fiscal cliff. a source of great concern for so many people, everyone's taxes will go up, will go up if there's no deal. let's go live to our white house correspondent dan...
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and president obama saying dammit get's start out by giving 98% of americans a tax cut. what's wrong with that. but first -- >> this is the "full court press." >> even if you didn't win the grand prize in last night's powerball jackpot, you should double check your ticket and see if you won a smaller prize. a lot of people don't do that. they rip up their ticket after they see they didn't win the $500 million. according to the association, of the $40 billion in prizes awarded in the u.s. each year, $800 million go completely uncollected. >> no kidding. >> bill: oh, my god. >> what happens to that money? >> no one picks them up. >> most lotteries give you six months 180 days to pick it up and i think it goes back into the fund of that state lottery benefits whether it is education or schools. >> that's not all bad. don't just let money go. >> nfl star is still awaiting for his date on the basketball court with president obama. washington redskins sensation quarterback robert griffin iii tells yahoo news he challenged the president to a game of pickup last year but the pre
and president obama saying dammit get's start out by giving 98% of americans a tax cut. what's wrong with that. but first -- >> this is the "full court press." >> even if you didn't win the grand prize in last night's powerball jackpot, you should double check your ticket and see if you won a smaller prize. a lot of people don't do that. they rip up their ticket after they see they didn't win the $500 million. according to the association, of the $40 billion in prizes...
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president obama doesn't want to talk about spending cuts. congressman aaron schaak is on the house, ways and means committee. good evening, sir. >> good evening. >> what about the spending cuts? >> the president made is very clear during his campaign he wanted a balanced approach. he talked repeatedly about raising taxes on the wealthy. he continues to talk about raising tax on the well think. >> the tax rate. >> right, the tax rates on the well think and beyond raising taxes on the well think, tax rates on the well think, he said he wanted a balanced approach etch said during the campaign he wanted $2.50 in cuts for every $1.50 in revenue. yet you saw the only proposal come from him sense the election was four dollars in revenue for one dollar in cuts. it was $1.6 trillion in revenue and $400 trillion in cuts and $300 trillion in additional stimulus spending in addition to that. but completely the opposite in cracks to his own campaign pledge. what we've been trying to do, greta, is hold his feet to the fire and say speaker bain wares clear
president obama doesn't want to talk about spending cuts. congressman aaron schaak is on the house, ways and means committee. good evening, sir. >> good evening. >> what about the spending cuts? >> the president made is very clear during his campaign he wanted a balanced approach. he talked repeatedly about raising taxes on the wealthy. he continues to talk about raising tax on the well think. >> the tax rate. >> right, the tax rates on the well think and beyond...
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president obama proposed $316 billion in additional savings. and you can do hundreds of billions in savings. so absolutely. >> a lot of liberals in your party will vote against it if there's any significant cut in the entitlement spending. >> we know that there are savings that can be found in medicare and medicaid. but what we have to make sure of is that a priority in any deal, you don't balance this first on the backs of the middle class. you have to make sure we have significant spending cuts, balance with an increase in rates. we can do tax reform also, but in order to get the certainly the middle class needs, we have to make sure that revenue is part of the package. >> i want to play a clip of the president from bloomberg tv today suggesting do a modest deal now, punt and do a bigger deal next year. listen. >> we're not going to be able to come up with a comprehensive tax reform package that gets it all done just in the next two weeks. we're not going to be able to come up with necessarily a comprehensive entitlement reform package in the
president obama proposed $316 billion in additional savings. and you can do hundreds of billions in savings. so absolutely. >> a lot of liberals in your party will vote against it if there's any significant cut in the entitlement spending. >> we know that there are savings that can be found in medicare and medicaid. but what we have to make sure of is that a priority in any deal, you don't balance this first on the backs of the middle class. you have to make sure we have significant...
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>>> so just 33 days until we hit the disastrous combination of tax rate increases and spending cuts now known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%. quote, president obama signalled he wouldn'tnsist tax rates on upper income americans rise to clinton era peaks as part of a deficit reduction deal. the white house's flexibility first described by democrat erskine bowles after meetings with mr. obama and others confirmed by administration officials could envision tax rates increase from their current levels but less than clinton era levels. would you agree to a deal, senator? call it in the middle. 37%. >> well, the problem with that is raising those tax rates on
>>> so just 33 days until we hit the disastrous combination of tax rate increases and spending cuts now known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something...
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. >> it's part of president obama's plan to cut fiscal spending, invite someone for lunch and have us pick up the tab. >> we're all picking up the tab for that lunch. >> that's right. >>> "early start" continues right now. >> suddenly rich. so far we know of two winning tickets for the record-breaking powerball jackpot. >> lunch date, mitt romney meeting with president obama. >> and only in new york. a zebra hot on the heels of a pony in new york city. >> never thought about hot on the heels of a pony. okay. >> i'm christine romans. >> i'm zoraida sambolin. >> in egypt the u.s. embassy in cairo is closed. no one is being allowed in or out of the embassy now. embassy officials say the entrance is blocked by protesters as clashes erupt nearby. massive demonstrations against president morsy threatened the new young government after a degree last week extending his powers to an e uneasy level for some egyptians. americans in cairo going to the embassy for business, please don't. no one is going in or out of the embassy in cairo. >> and finding a way to steer clear of the fiscal cliff. the
. >> it's part of president obama's plan to cut fiscal spending, invite someone for lunch and have us pick up the tab. >> we're all picking up the tab for that lunch. >> that's right. >>> "early start" continues right now. >> suddenly rich. so far we know of two winning tickets for the record-breaking powerball jackpot. >> lunch date, mitt romney meeting with president obama. >> and only in new york. a zebra hot on the heels of a pony in...
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for the bush-era tax cuts unbelievable for democrats >> bill: i am totally convinced president obama will never, never, never extend the tax cuts for the wealthiest americans again. >> he did it before. >> not this time. not this time. meredith shiner, always good to have you in the studio. >> great to be here, you guys. >> meredith >> bill: follow her at rolecale rolecale.com or on twitter twitter @meredithshiner. we will be back. i will be back with a quick parting shot for today. >> this is bill press show, live on your radio and on current tv. tell them it's like being nestled [ music ] surrounded by a 500-watt sound system while floating on a suspension made of billowy clouds. or you could just hand them your keys. ♪ ♪ ♪ ♪ then how'd i get this... [ voice of dennis ] ...allstate safe driving bonus check? what is that? so weird, right? my agent, tom, said... [ voice of dennis ] ...only allstate sends you a bonus check for every six months you're accident-free... ...but i'm a woman. maybe it's a misprint. does it look like a misprint? ok. what i was trying... [ voice of de
for the bush-era tax cuts unbelievable for democrats >> bill: i am totally convinced president obama will never, never, never extend the tax cuts for the wealthiest americans again. >> he did it before. >> not this time. not this time. meredith shiner, always good to have you in the studio. >> great to be here, you guys. >> meredith >> bill: follow her at rolecale rolecale.com or on twitter twitter @meredithshiner. we will be back. i will be back with a quick...
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tax hikes, spending cuts will automatically take effect january 1st unless the two sides can reach an agreement on debt reduction before then. our chief national correspondent john king is joining us right now. seems like they're posturing big-time. but the clock is ticking. >> you had the president's plan, now a house republican plan. at least you have two pieces of paper on the table. the republicans don't budge on the president's top priority, that trophy. he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >> that's a good question. are you at all surprised that they're both negotiating in public with specific details of their respective plans instead of
tax hikes, spending cuts will automatically take effect january 1st unless the two sides can reach an agreement on debt reduction before then. our chief national correspondent john king is joining us right now. seems like they're posturing big-time. but the clock is ticking. >> you had the president's plan, now a house republican plan. at least you have two pieces of paper on the table. the republicans don't budge on the president's top priority, that trophy. he wants higher tax rates on...
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in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on where to find it. free package pickup. from the u.s. postal service. because it's nice to have an extra pair of hands arou
in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something...
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cuts for the middle class. the latest from stephanie cutter includes a two-minute video reminding voters that the president campaign and won on that same platform. >> obama: we need to give tax relief to working families trying to raise their kids to keep them healthy send them to college, keep a roof over their heads. that's the choice in this election. >> the administration is still asking you to send in stories about what being able to keep about $2,000 more a year means to you and your family. the president is planning to meet with state governors this week and the business roundtable, a big business lobbying group. this morning fiscal cliff negotiations appear to be at a stand still. treasury secretary tim geithner says the president's offer is unwavering. we're going to let tax rates go up for top earners and republicans will have to work with that reality. >> there is no responsible way we can govern this country with those low rates in place for future generations. those rates are going to have to go up
cuts for the middle class. the latest from stephanie cutter includes a two-minute video reminding voters that the president campaign and won on that same platform. >> obama: we need to give tax relief to working families trying to raise their kids to keep them healthy send them to college, keep a roof over their heads. that's the choice in this election. >> the administration is still asking you to send in stories about what being able to keep about $2,000 more a year means to you...
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we just heard a list of all the spending cuts. you know what, the budget. we've been running a trillion dollar deficit every year under this administration. president obama has nearly doubled the debt. the spending is out of control. and it's -- we have this economy that continues to struggle -- >> the debt ceiling -- >> the debt ceiling is our opportunity to really look at these questions, but the republicans want to negotiate -- speaker boehner the day after the election, went to the podium and put tax revenue on the table. this is our moment, this is our -- tip o'neill and president reagan back in the early '80s, they came together. they negotiated to save social security as well as address the spending. and it was a $3 in spending cuts to every dollar in new revenue. and that's the type of approach we need today. >> they never used the issue of debt ceiling in those negotiations. that's relatively new. the president says, i will not play that game. he may have no choice, because the republicans have a decisive majority in the house of representatives. i
we just heard a list of all the spending cuts. you know what, the budget. we've been running a trillion dollar deficit every year under this administration. president obama has nearly doubled the debt. the spending is out of control. and it's -- we have this economy that continues to struggle -- >> the debt ceiling -- >> the debt ceiling is our opportunity to really look at these questions, but the republicans want to negotiate -- speaker boehner the day after the election, went to...
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that is where the republicans are insisting that we have a spending cuts and entitlement reforms that will got america on the right track moving forward. jenna: congresswoman, such a big topic. we only brushed the surface of it. we look forward to having you back to talk more about it. thank you so much. >> thank you. jon: right now a potentially explosive new development in the trayvon martin shooting case. lawyers for george zimmerman, releasing this photo. it shows the accused shooter with a bloody nose taken on the night of the deadly shooting. zimmerman as you might recall faces second-degree murder charges in the death of this man, 17-year-old trayvon martin. zimmerman claims he shot the teen in self-defense during a violent struggle and martin inflicted the bloody nose. does this change the arc of this case? let's talk about it with lose we will, fox news analyst and crystal panich a criminal defense attorney. the shooting happened and that photo was taken february 26th, 2012. >> right. jon: apparently the prosecution didn't release the color version of the photo until october
that is where the republicans are insisting that we have a spending cuts and entitlement reforms that will got america on the right track moving forward. jenna: congresswoman, such a big topic. we only brushed the surface of it. we look forward to having you back to talk more about it. thank you so much. >> thank you. jon: right now a potentially explosive new development in the trayvon martin shooting case. lawyers for george zimmerman, releasing this photo. it shows the accused shooter...
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you were there when i met obama and i told president obama, you told us you were going to cut the red tape. and i told him, the middle class is getting royal finger. and what did he say? fema works for me. fema ain't doing nothing still. they keep going around in a circle. they go, denied. denied. but you called them up. we're still looking at your thing. it's a joke. you need to take action and be real. get those government property, get the trailers there so everyone us can be -- [cheers and applause] bill: that man speaks for so many who are still suffering. martha: that is for sure. bill: many people say the recovery effort is at a standstill now. most of the area looks the same today as it did when the storm happened. we mentioned this earlier. for a lot of folks here, you're talking bull dozers going through their neighborhoods and taking down homes much like parts of new orleans. martha: a lot of people literally have nowhere to live. they talk about trailers they want to see, to have hot shower and electricity is what they need for right now and to get some help. a bad situati
you were there when i met obama and i told president obama, you told us you were going to cut the red tape. and i told him, the middle class is getting royal finger. and what did he say? fema works for me. fema ain't doing nothing still. they keep going around in a circle. they go, denied. denied. but you called them up. we're still looking at your thing. it's a joke. you need to take action and be real. get those government property, get the trailers there so everyone us can be -- [cheers and...